THE SCOPE OF GOVERNMENT’s RELATIONS WITH BUSINESS
The scope of government relations with business in the context of developing countries is indeed wide and deep. The role of government in few areas are mentioned below:
- It prescribes the rules of the game.
- It is the major purchaser of the output of business.
- It uses its contracting power to get business do things it wants.
- It promotes and subsidizes business.
- It is an architect of economic growth.
- It protects interests of society against business exploitation.
- It directly manages large areas of private business.
- It is a national security protector.
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